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The Canadian dollar strengthened against the U.S. dollar on Friday, rebounding from a one-month low to trade 0.3% higher at 1.3550, helped by month-end portfolio hedging flows. Equity gains and a 2.7% rise in oil to $76.78 a barrel also supported the loonie.
A firmer loonie makes Canadian-priced imports cheaper and slightly reduces the cost of Canadian-origin feed ingredients such as canola meal for U.S. buyers. The move is short-term and largely flow-driven.
kitco.comApr 28, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
